Guideline Value for KANNAKI SALAI

Kannaki Salai guideline value

The current guideline value of Kannaki Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannaki Salai has changed

Over the years, the guideline value of Kannaki Salai has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and most recently to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Kannaki Salai's 2024 figure above that median.

• Kannanrukmani-Radha Garden: Rs 1,100 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)
• Kannappa Naicker Garden: Rs 1,100 per sq.ft (2024)
• Kannappan Garden: Rs 1,100 per sq.ft (2024)
• Karumariamman Koil Street: Rs 1,700 per sq.ft (2024)
• Kasthuri Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaki Salai

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaki Salai?

The Sub Registrar Office that covers Kannaki Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthandi

The guideline value is a crucial factor in the registration process of property transactions in Uthandi. It determines the minimum value at which a property must be registered, influencing the stamp duty and registration fees that buyers and sellers must pay.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for buyers to be aware of the current guideline value to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of Kannaki Salai?

The current guideline value of Kannaki Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024, along with previous revisions in 2023, 2017, and 2012.

What was the guideline value in 2017?

The guideline value of Kannaki Salai in 2017 was Rs 1,340 per sq.ft.

How is the stamp duty calculated on property in Kannaki Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.